Long AUDUSD as Price Consolidates After Big Loss

This is the exact same trade I put on several weeks ago, which benefited from the RBA decision to keep rates the same and the Fed's more dovish comments. That allowed its profit target to be hit relatively quickly, though recent comments from Glenn Stevens of the RBA caused price to fall right back to support. As such, I'm putting on the same trade again. Candlesticks are confirming, at least for the time being, as we are seeing consolidation after a big down day -- a potential sign of exhaustion.

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